Language:
English
Pages:
1 Online-Ressource (18 p.)
,
21 x 28cm.
Titel der Quelle:
OECD Journal: Economic Studies
Angaben zur Quelle:
Vol. 2016, no. 1, p. 91-108
Angaben zur Quelle:
volume:2016
Angaben zur Quelle:
year:2016
Angaben zur Quelle:
number:1
Angaben zur Quelle:
pages:91-108
Keywords:
Economics
Abstract:
This document describes and discusses a new supply side framework that quantifies the impact of structural reforms on per capita income in OECD countries. It obtains the overall macroeconomic reform impacts by aggregating over the effects on physical capital, employment and productivity through a production function. On the basis of reforms defined as observed changes in policies, the paper finds that product market regulation has the largest overall single policy impact five years after the reforms. But the combined impact of all labour market policies is considerably larger than that of product market regulation. The paper also shows that policy impacts can differ at different horizons. The overall long-term effects on GDP per capita of policies transiting through capital deepening can be considerably larger than the 5- to 10-year impacts. By contrast, the long-term impact of policies coming only via the employment rate channel materialises at shorter horizon.
DOI:
10.1787/eco_studies-2016-5jg1lqspxtvk
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